Retirement Planning Co of New England Inc. Makes New $332,000 Investment in Tesla, Inc. $TSLA

Key Points

• Retirement Planning Co of New England Inc. has acquired 1,280 shares of Tesla, Inc. valued at about $332,000 during the first quarter of the year.
• Major investors, including Goldman Sachs Group Inc. and GAMMA Investing LLC, significantly increased their Tesla holdings, contributing to institutional ownership of 66.20% of the company.
• Tesla reported $0.40 EPS for the last quarter, falling short of expectations, with revenues declining 11.8% year-over-year to $22.50 billion.

Retirement Planning Co of New England Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,280 shares of the electric vehicle producer's stock, valued at approximately $332,000.

Several other large investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services lifted its holdings in shares of Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after purchasing an additional 97 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth $27,000. Finally, Newton One Investments LLC increased its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Canaccord Genuity Group upped their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Finally, Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock worth $49,396,070 in the last quarter. Insiders own 20.70% of the company's stock.

Tesla Stock Down 1.4%

Shares of NASDAQ:TSLA traded down $4.51 during trading on Tuesday, reaching $329.36. 58,153,823 shares of the stock were exchanged, compared to its average volume of 103,741,594. Tesla, Inc. has a 1-year low of $209.64 and a 1-year high of $488.54. The stock has a fifty day moving average of $323.29 and a two-hundred day moving average of $302.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.38, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.